Halozyme Therapeutics, Inc.

HALO

HALOHalozyme Therapeutics, Inc. US flag

NASDAQ Global Select

81.93

USD

+1.09

- -

9.72BMarket Cap

Income Statement (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Sales/Revenue/Turnover	56	42	55	75	135	147	317	152	196	268	443	660	829	1,015	1,397
+ Sales & Services Revenue	56	42	55	75	135	147	317	152	196	268	443	660	829	1,015	1,397
- Cost of Revenue	- -	1	6	23	29	33	31	10	46	43	81	139	192	159	229
+ Cost of Goods & Services	- -	1	6	23	29	33	31	10	46	43	81	139	192	159	229
Gross Profit	56	41	49	53	106	113	285	142	150	224	362	521	637	856	- -
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1,168
- Operating Expenses	76	95	129	116	133	197	204	211	218	80	86	253	299	304	365
+ Selling, General & Admin	18	25	32	36	40	46	54	61	77	46	50	144	149	154	207
+ Research & Development	58	70	97	80	93	151	151	150	141	34	36	67	76	79	81
+ Other Operating Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	43	74	71	77
Operating Income (Loss)	-20	-54	-80	-63	-27	-83	81	-69	-68	144	276	268	338	551	803
- Non-Operating (Income) Loss	- -	- -	3	5	5	19	19	10	5	15	27	19	-11	-6	336
+ Interest Expense, Net	- -	- -	3	6	5	20	22	18	12	20	8	17	19	18	18
+ Interest Expense	- -	- -	3	6	5	20	22	18	12	20	8	17	19	18	18
- Interest Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	- -	- -	- -	- -	- -	-1	-3	-8	-7	-5	20	2	-30	-24	318
Pretax Income	-20	-54	-83	-68	-32	-102	62	-80	-72	129	249	249	348	557	467
- Income Tax Expense (Benefit)	- -	- -	- -	- -	- -	1	-1	1	- -	- -	-154	47	67	113	150
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	-20	-54	-83	-68	-32	-103	63	-80	-72	129	403	202	282	444	317
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	-20	-54	-83	-68	-32	-103	63	-80	-72	129	403	202	282	444	317
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	-20	-54	-83	-68	-32	-103	63	-80	-72	129	403	202	282	444	317
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	-20	-54	-83	-68	-32	-103	63	-80	-72	129	403	202	282	444	317
EBIT	-20	-54	-80	-63	-27	-83	81	-69	-68	144	276	268	338	551	803
EBITDA	-19	-53	-79	-61	-26	-81	83	-67	-64	148	279	317	422	633	891
EBITDA Margin (%)	-33.42	-124.15	-144.54	-81.34	-19.08	-55.08	26.27	-44.08	-32.42	55.14	62.91	48.05	50.94	62.32	63.77
EBITA	-20	-54	-80	-63	-27	-83	81	-69	-68	144	276	268	338	551	803
Gross Margin (%)	99.54	97.42	88.6	69.83	78.35	77.36	90.16	93.33	76.76	83.79	81.64	78.9	76.8	84.3	83.62
Operating Margin (%)	-35.37	-126.7	-146.78	-83.68	-20.33	-56.72	25.58	-45.65	-34.5	53.91	62.24	40.53	40.71	54.32	57.47
Profit Margin (%)	-35.25	-126.53	-152.34	-90.76	-23.86	-70.23	19.89	-52.9	-36.86	48.24	90.84	30.62	33.96	43.74	22.69
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Depreciation Expense	1	1	1	2	2	2	2	2	4	3	3	50	85	81	88
Basic Weighted Avg Shares	103	111	113	123	127	128	136	144	144	136	141	137	132	127	120
Basic EPS, GAAP	-0.19	-0.48	-0.74	-0.56	-0.25	-0.81	0.46	-0.56	-0.5	0.95	2.86	1.48	2.13	3.5	2.64
Basic EPS from Cont Ops	-0.19	-0.48	-0.74	-0.56	-0.25	-0.81	0.46	-0.56	-0.5	0.95	2.86	1.48	2.13	3.5	2.64
Diluted Weighted Avg Shares	103	111	113	123	127	128	139	144	144	141	147	141	134	129	124
Diluted EPS, GAAP	-0.19	-0.48	-0.74	-0.56	-0.25	-0.81	0.45	-0.56	-0.5	0.91	2.74	1.44	2.1	3.43	2.56
Diluted EPS from Cont Ops	-0.19	-0.48	-0.74	-0.56	-0.25	-0.81	0.45	-0.56	-0.5	0.91	2.74	1.44	2.1	3.43	2.56

Balance Sheet (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Current Assets	64	131	95	161	172	257	510	428	543	555	926	739	746	1,085	825
+ Cash, Cash Equivalents & STI	53	100	72	136	108	205	469	355	421	368	741	363	336	596	143
+ Cash & Cash Equivalents	53	100	27	61	43	67	169	58	120	148	119	234	118	116	134
+ ST Investments	- -	- -	44	74	65	138	300	297	301	220	622	129	218	480	9
+ Accounts & Notes Receiv	2	16	9	9	32	16	22	30	59	98	91	231	234	308	441
+ Accounts Receivable, Net	2	16	10	10	33	16	23	31	60	99	92	189	240	297	434
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	- -	-1	-1	-1	-1	-1	-1	-1	-1	-1	42	-6	12	7
+ Inventories	1	3	6	6	9	15	5	23	29	61	54	100	128	142	176
+ Raw Materials	- -	1	1	1	1	1	- -	1	3	6	11	14	24	- -	- -
+ Work In Process	- -	1	4	5	8	13	2	11	16	34	17	40	34	- -	- -
+ Finished Goods	- -	1	1	1	- -	1	3	10	11	21	26	46	70	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	142	176
+ Other ST Assets	8	13	8	10	22	21	14	21	33	28	40	45	49	39	65
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2	4	7	5	10	5	10	12	22	25	178	1,102	987	978	1,700
+ Property, Plant & Equip, Net	2	4	3	3	4	4	4	7	11	11	9	76	75	75	82
+ Property, Plant & Equip	8	10	11	12	14	16	17	24	22	22	22	90	95	100	115
- Accumulated Depreciation	6	7	8	9	10	12	14	16	11	12	13	15	20	25	33
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	- -	3	2	6	1	6	5	12	15	169	1,027	912	903	1,618
+ Total Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	956	890	819	1,562
+ Goodwill	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	409	417	417	580
+ Other Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	547	473	402	981
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	- -	3	2	6	1	6	5	12	15	169	71	22	84	56
Total Assets	66	135	102	166	182	262	520	440	566	580	1,104	1,842	1,733	2,063	2,525
+ Payables & Accruals	13	10	18	17	31	32	48	54	62	22	26	117	112	139	177
+ Accounts Payable	8	2	3	3	4	4	8	4	6	2	2	18	12	10	21
+ Accrued Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	6	8	14	14	27	29	40	50	56	20	24	100	101	129	156
+ ST Debt	- -	- -	- -	- -	22	17	77	92	20	397	89	13	- -	- -	- -
+ ST Borrowings	- -	- -	- -	- -	22	17	77	92	20	397	89	13	- -	- -	- -
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Liabilities	4	9	7	7	9	5	7	4	4	2	2	- -	- -	- -	- -
+ Deferred Revenue	4	9	7	7	9	5	7	4	4	2	2	3	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-3	- -	- -	- -
Total Current Liabilities	17	19	25	24	62	55	131	149	86	421	117	131	112	139	177
+ LT Debt	- -	31	50	50	28	199	125	35	383	- -	787	1,493	1,499	1,506	2,143
+ LT Borrowings	- -	30	50	50	28	199	125	35	383	- -	787	1,493	1,499	1,506	2,143
+ LT Finance Leases	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Liabilities	38	36	47	50	48	40	55	7	5	7	3	48	38	55	157
+ Accrued Liabilities	38	36	46	47	44	40	54	5	1	4	3	2	- -	- -	43
+ Pension Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	- -	1	3	4	- -	1	2	4	3	1	46	38	55	114
Total Noncurrent Liabilities	38	67	97	100	76	239	180	42	388	7	790	1,541	1,537	1,561	2,299
Total Liabilities	55	86	122	125	139	294	312	191	474	429	907	1,672	1,649	1,700	2,477
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	256	347	362	492	526	553	731	781	695	626	256	28	3	- -	12
+ Common Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Additional Paid in Capital	256	347	362	492	526	553	731	780	695	625	256	27	2	- -	12
- Treasury Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Retained Earnings	-245	-299	-382	-450	-483	-585	-522	-531	-604	-475	-59	143	91	360	55
+ Other Equity	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-1	-1	-9	4	-18
Equity Before Minority Interest	11	49	-20	41	43	-32	208	249	92	151	197	170	84	364	49
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	11	49	-20	41	43	-32	208	249	92	151	197	170	84	364	49
Total Liabilities & Equity	66	135	102	166	182	262	520	440	566	580	1,104	1,842	1,733	2,063	2,525
Shares Outstanding	104	113	115	126	128	130	143	145	137	135	137	135	127	123	118
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	1	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt	-53	-70	22	-12	7	150	34	68	282	250	758	1,272	1,381	1,390	2,009
Net Debt to Equity	-484.63	-142.96	-112.13	-27.88	15.21	-461.37	16.13	27.5	307.75	165.2	384.84	749.07	1,647.67	382.04	4,115.23
Tangible Common Equity Ratio	16.58	36.26	-19.64	24.91	23.65	-12.42	40.07	56.53	16.22	26.05	17.83	-88.72	-95.53	-36.54	-157.03
Current Ratio	3.7	6.89	3.82	6.63	2.75	4.7	3.89	2.86	6.35	1.32	7.91	5.65	6.64	7.8	4.66
Cash Conversion Cycle	-2,733.68	57.4	242.28	99.35	115.13	155.8	41.21	484.58	256.18	467.2	327.1	260.56	285.94	381.8	327.91

Cash Flow Statement (USD)

API ChatGPT

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

+ Net Income	-20	-54	-83	-68	-32	-103	63	-80	-72	129	403	202	282	444	317
+ Depreciation & Amortization	1	1	1	2	2	2	2	2	4	3	3	50	85	81	88
+ Non-Cash Items	6	8	11	20	22	33	48	34	33	31	-110	74	61	43	399
+ Stock-Based Compensation	6	8	10	15	21	26	31	36	35	17	21	24	37	43	52
+ Deferred Income Taxes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-155	40	35	1	1
+ Asset Impairment Charge	- -	- -	- -	- -	- -	- -	- -	- -	1	1	- -	- -	- -	- -	49
+ Other Non-Cash Adj	- -	- -	1	5	1	8	18	-1	-3	14	25	10	-10	-1	298
+ Chg in Non-Cash Work Cap	-21	-20	22	-1	-28	17	21	-6	-51	-108	4	-86	-39	-89	-152
+ (Inc) Dec in Accts Receiv	- -	-13	7	- -	-23	17	-6	12	-29	-38	7	-84	-3	-74	-128
+ (Inc) Dec in Inventories	- -	-2	-3	- -	-3	-5	9	-17	-7	-31	7	-17	-27	-67	3
+ (Inc) Dec in Prepaid Assets	-5	-4	2	- -	-16	6	2	-6	-19	3	-12	-9	4	5	-33
+ Inc (Dec) in Accts Payable	1	-3	8	-1	14	- -	16	6	5	-41	1	25	-13	47	6
+ Inc (Dec) in Other	-17	3	9	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	-34	-64	-49	-48	-37	-50	134	-50	-85	55	299	240	389	479	652
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-1	-1	-2	-1	-2	-3	-1	-5	-4	-3	-1	-5	-15	-11	-295
+ Acq of Fixed Prod Assets	-1	-1	-2	-1	-2	-3	-1	-5	-4	-3	-1	-5	-15	-11	-7
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-288
+ Cash (Repurchase) of Equity	- -	81	- -	108	- -	- -	135	- -	-200	-150	-350	-200	-402	-250	-342
+ Increase in Capital Stock	- -	81	- -	108	- -	- -	135	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	-200	-150	-350	-200	-402	-250	-342
+ Net Change in LT Investment	- -	- -	-46	-32	8	-74	-162	7	-2	80	-405	491	-82	-252	475
+ Dec in LT Investment	- -	- -	3	57	80	82	236	318	388	306	248	746	211	396	722
+ Inc in LT Investment	- -	- -	-49	-89	-71	-155	-398	-311	-390	-226	-653	-255	-293	-648	-247
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-999	- -	- -	-726
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	-999	- -	- -	-726
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	26	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-1	-1	-48	-33	6	-77	-164	2	-6	78	-406	-487	-97	-263	-546
+ Dividends Paid	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Debt	- -	30	20	- -	- -	149	-16	-78	339	-20	416	625	-13	- -	451
+ Cash From Debt	- -	30	20	- -	- -	203	- -	- -	447	- -	785	1,072	- -	- -	1,470
+ Repayments of Debt	- -	- -	- -	- -	- -	-54	-16	-78	-108	-20	-369	-447	-13	- -	-1,019
+ Other Financing Activities	5	2	5	7	13	2	13	14	14	63	12	-62	8	31	-194
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	5	113	25	115	13	151	132	-64	153	-106	78	362	-408	-219	-85
Effect of Foreign Exchange Rates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Changes in Cash	-30	47	-72	34	-18	23	102	-111	62	28	-29	115	-116	-3	21
EBITDA	-19	-53	-79	-61	-26	-81	83	-67	-64	148	279	317	422	633	891
EBITDA Margin (%)	-33.42	-124.15	-144.54	-81.34	-19.08	-55.08	26.27	-44.08	-32.42	55.14	62.91	48.05	50.94	62.32	63.77
Free Cash Flow	-35	-66	-52	-49	-39	-54	133	-54	-89	53	298	235	373	468	357
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	999	- -	- -	726
Free Cash Flow to Firm	- -	- -	- -	- -	- -	- -	- -	- -	- -	73	- -	249	388	483	369
Free Cash Flow to Equity	-35	-36	-32	-49	-39	95	117	-132	250	34	714	860	360	468	1,096
Free Cash Flow per Basic Share	-0.34	-0.59	-0.46	-0.4	-0.31	-0.42	0.97	-0.38	-0.62	0.39	2.12	1.72	2.83	3.69	2.98
Price/Free Cash Flow	-29.14	-11.86	-35.95	-25.65	-63.24	-26.76	20.81	-46.86	-31.44	104.25	19.62	32.67	12.28	12.63	8.81
Cash Flow to Net Income	1.73	1.2	0.59	0.69	1.15	0.49	2.13	0.62	1.18	0.43	0.74	1.19	1.38	1.08	2.06
Capital Expenditures	-1	-1	-2	-1	-2	-3	-1	-5	-4	-3	-1	-5	-15	-11	-295